60,000 Shares in MGM Resorts International (NYSE:MGM) Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 60,000 shares of the company's stock, valued at approximately $2,079,000.

A number of other institutional investors also recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC lifted its position in MGM Resorts International by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company's stock worth $32,473,000 after purchasing an additional 280,700 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock worth $79,110,000 after acquiring an additional 38,749 shares during the period. Korea Investment CORP lifted its holdings in shares of MGM Resorts International by 964.3% during the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock worth $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC lifted its stake in MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock worth $5,613,000 after purchasing an additional 30,605 shares during the last quarter. Finally, Davis Selected Advisers lifted its stake in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MGM shares. Truist Financial cut their target price on MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Barclays increased their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Leerink Partners cut shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Morgan Stanley dropped their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $48.94.

Insider Buying and Selling

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Corey Ian Sanders sold 40,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the completion of the transaction, the chief operating officer now directly owns 281,530 shares in the company, valued at approximately $9,693,077.90. The trade was a 12.44% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Trading Down 0.4%

MGM Resorts International stock traded down $0.12 during trading hours on Friday, reaching $31.61. 15,732,054 shares of the company's stock were exchanged, compared to its average volume of 4,807,610. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm's 50 day simple moving average is $30.88 and its 200 day simple moving average is $33.39. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The firm has a market capitalization of $8.60 billion, a PE ratio of 13.17, a PEG ratio of 0.98 and a beta of 1.78.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. Research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International declared that its board has authorized a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 22.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.